This is an image created to advertise a product called "Speed Razor".
Various tag lines subtitled the image (such as "another loyal razor user") during its use in a magazine ad campaign.
Yes, the model's hair really is shaved into the "R" razor logo. Only the blade was added digitally.
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  This is an ad which ran in a dozen video / computer technology trade magazines around the world. It was also reproduced as a 2-sided hand-out flyer. The piece was directed and conceived by Darren Wheeling.
  The photo was shot by Ken Wyner.